All About Buying a House in Homewood, AL

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Understanding the Homewood, AL Housing Landscape

Strongly considering a home purchase in Homewood? Awesome! You've chosen a lively city with a great balance of businesses, schools, restaurants and parks, and we're here to help the home purchase process go a little smoother. We serve 3.8 million customers across the country and are familiar with the ins-and-outs of the Homewood housing market.

Given all of Alabama's growth, Homewood homes aren't always easy to find at a comfortable price. Sustained support for local businesses and cultural growth have helped to beckon young families, new businesses, and retirees to the Homewood area, but so much change also means more traffic, more competition, and a need for more schools. That said, Homewood and its nearby areas still offer an array of home types and prices. You can find townhomes, condos, single-family homes, duplexes, and (fingers-crossed) your perfect home! When buying a house in Homewood, double check that you're factoring in the home's distance from your daily activities. If possible, test drive your route to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Exploring Homewood will also help you get a feel for how homes in east Homewood differ from west Homewood, what the communities are like, and where to find Homewood's coolest attractions.

Are your finances in the right place to buy a home in Homewood? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We believe in keeping the dream of homeownership alive and work to make every stage of the journey more enjoyable and less worrisome. You don't even have to stick with your decision to buy a house in Homewood. We serve experienced homeowners and first-time homeowners alike. Start with the following steps to help you determine if you're financially ready to buy a home in Homewood.

Before anything else, estimate how much house you can afford. This will help you set a price range while house shopping in Homewood. Then, add up the potential monthly payments (including property taxes, insurance, homeowners association fees, home repairs, etc.). No need to have an exact amount. While everyone's situation is different, an online search for Homewood averages will usually give you some solid estimates. Keep in mind that your monthly mortgage payment could make up the bulk of your monthly home expenses.

Then, consider how much you can contribute to a down payment. Putting at least 20% down will boost your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, down payment requirements can differ depending on the loan type. This is where getting prequalified for a mortgage comes in handy. Prequalification points you in the right direction as far as how much you may be eligible to borrow. Also, check your credit. Lenders place a high importance on credit history when looking at your mortgage application. You may be presented with more mortgage options if you have healthy credit— and more options are always good!

It's Go Time! Buy a House in Homewood, AL

Moving remains one of the biggest stressors, despite being a practically universal experience. But when you get to live in a stellar city like Homewood, moving doesn't seem so challenging. Contact Mr. Cooper as you get ready to buy a house in Homewood. We're here for you every step of the way and Mr. Cooper® Real Estate Rewards can even put you in touch with a vetted real estate agent who can potentially help you save thousands of dollars.*

Homewood, AL Mr. Cooper Customer Reviews

Read real stories from real Mr. Cooper home buyers and sellers in Homewood, AL. Then contact us to see what we can do for you.

Buying or selling a house in Homewood? Mr. Cooper makes it easier.

Mr. Cooper works to save buyers and sellers money at every stage of their journey, from real estate commissions to closing costs.